Prospects and Challenges for Sustainable Tourism: Evidence from South Asian Countries

Tourism is one of the world's fastest expanding businesses, as well as a significant source of foreign exchange profits and jobs. The research is based on secondary sources. The facts and information were primarily gathered and analyzed from various published papers and articles. The study goals are to illustrate the current scenario of tourism industry in south Asia, classifies the restraints and recommends helpful key developments to achieve sustainable tourism consequently. The study revealed that major challenges of sustainable tourism in south Asian region are lack of infrastructure facilities, modern and sufficient recreation facilities, security and safety, proper training and HR, proper planning from government, marketing and information, product development, tourism awareness, security and safety, and political instability etc. The study also provides some suggestive measures that for the long-term growth of regional tourism, the government should establish and implement policies involving public and private investment and collaboration

Impact of Foreign Reserve in Economic Growth: An Empirical Study on Bangladesh

Bangladesh maintained its robust performance in development. There have been upbeat exports and remittances. Overall inflation is slow & the current account deficit was reduced by higher exports and lower import inflation, but the decrease in the financial account surplus diluted the effect of the decline in the current account deficit on the overall balance of payments deficit. In the context of the Error Correction Process, this research studied the impact of economic development on Bangladesh foreign reserve assets using data for the period 1980- 2014. The findings show that economic growth is extremely important. The model's estimate, that economic growth and foreign reserves have a positive long-term relationship. The model checked by error correction estimates for error correction is negative and statistically important. In addition, the model showed that economic growth has short-term relationship too. The adjustment speed is more than 60 percent, suggesting that the term for error correction corrects the imbalance of the previous year. Granger causality test confirm that there is long run & short run causality among the variables. The question is whether the accumulation of foreign currency reserves is a required prerequisite for economic development. The empirical findings in this paper indicate that the rise in foreign exchange reserves induces GDP growth, although causality has not been demonstrated in the opposite direction. Keywords:Bangladesh; Economic Growth; Foreign Reserve, Error correction model; International reserves. DOI: 10.7176/EJBM/13-8-09 Publication date: April 30th 2021